A strategic planning self-assessment for physician practices

The checklist below is an example of a strategic planning self-assessment you can use in your practice. The purpose of these self-assessments is to give you a concise checklist of best practices in a clinical practice. This checklist follows the Pareto Principle of focusing on the 20% of business practices that get you 80% of the results. Therefore, I don’t claim that it covers everything but it does cover a good percentage of the most important things.


Strategic Planning Checklist


r  We do a strategic planning process at least annually.

r  This process gathers input from key stakeholders and data about our practice and marketplace.

r  We review our mission and vision for the practice.

r  We assess the size and growth of the market for our services.

r  We compare our own “penetration” to the size of the market.

r  We assess trends in managed care and payments and analyze our contracts.

r  We evaluate competitors’ strengths and weaknesses, and how we can gain an edge.

r  We assess the strengths and weaknesses of our referral network.

r  We evaluate the depth and breadth of our overall service offerings. We assess the strengths and weaknesses of our marketing.

r  We assess our payers, including our payer mix.

r  We evaluate our clinical utilization rates and quality or care outcomes.

r  We evaluate our internal controls.

r  We evaluate our cost structure and financial ratios.

r  We review our technology.

r  We take a hard look at the patient’s experience, and how to improve it.

r  We assess the capabilities of our clinicians and staff and identify any gaps to fill.

r  We review physician and staff compensation.

r  We assess our risks, compliance, and malpractice insurance.

r  We evaluate our relationship with local hospital(s).

r  We analyze our financial strength, including capacity for debt, days receivables, trends in aging of receivables, collection ratios, and profitability by services.

r  We assess our facility and location, including whether we are located in the optimal zip code/area to serve our desired patient base.

r  We do an overall “Strength, Weaknesses, Opportunities, and Threats” or SWOT analysis about our practice.

r  We determine which services and programs to expand, which to defend, and which to exit.

r  We identify the top issues we need to address, and then identify key priorities to address these issues, achieve our vision, and be more competitive and profitable.

r  We set annual performance/financial goals for our practice and develop a plan to achieve those goals.

r  We assign specific accountability to achieve these initiatives, and a communication plan to follow up on them.

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